Will dropping the OCR by 0.5 per cent achieve anything?

Reserve Bank Governor Alan Bollard has cut official interest rates again, taking a full half of one percent off the official cash rate.

Since January this year the OCR has been the lowest in its 10 year history and today's cut takes it from 3 per cent to a new record low.

Economists and the financial markets have been in two minds, about whether Bollard would cut the OCR by 25 or 50 basis points.

Will dropping the OCR by 0.5 per cent achieve anything? Here is the latest selection of Your Views: